The Euro started a fresh increase after finding bids near the 1.2000 zone against the US Dollar. The EUR/USD pair broke the 1.2020 resistance to move into a positive zone.
It even climbed above the 1.2040 level and settled nicely above the 50 hourly simple moving average. A high is formed near 1.2070 and the pair is now consolidating gains.
It seems like there is a short-term contracting triangle forming with resistance near 1.2068 on the hourly chart. If there is an upside break above 1.2068 and 1.2070, the price could rise towards the 1.2120 level.
Conversely, the pair might fail and decline below 1.2060 on FXOpen. An initial support on the downside is near the 1.2040 level. Any more losses might lead the pair towards the 50 hourly simple moving average at 1.2028 in the coming sessions.
Install your trader software at VPS server of one of the super fast providers:
Finance news
 Stocks making the biggest moves midday: Chewy, Biogen, Snowflake and moreSignage is seen ahead of the IPO for Chewy at the New York Stock Exchange, ... Read More  Stocks making the biggest moves in the premarket: Snowflake, Vertex Pharmaceuticals, Chewy & moreTake a look at some of the biggest movers in the premarket:Snowflake (SNOW) – Snowflake ... Read More  Stock futures flat after S&P 500 hits new high, despite rising inflationTraders at the New York Stock Exchange, June 2, 2021.Source: NYSEU.S. stock futures were flat ... Read More |